New York-based real estate firm Compass, which has grown its presence in the D.C. market rapidly since first expanding here eight years ago, has signed a full-floor lease at 1401 Massachusetts Ave., NW.
The building is an annex next to the historic National City Christian Church on Thomas Circle. Swiss developer Akelius acquired the building from Rock Creek Property in 2019. The church originally sold the 1950s-era annex, then known as the Campbell Building, to D.C.-based Rock Creek in 2017.
The building had previously been used by the church as classrooms.
JLL brokered the Compass lease for 12,000 square feet on the entire fourth floor, which has direct access to the building’s new roof terrace.
“Alongside the value of the location, the quality of the wellness and amenity offerings at the building was absolutely something that stood apart. We look forward to having the ability to entertain on the fifth floor outdoor terrace overlooking Thomas Circle,” said Marc Pina, managing director for sales at Compass.
Compass will keep its nearby existing offices at 1313 14th St., NW, and it will have more than 500 brokers between the two offices.
It has other offices throughout Northern Virginia and Maryland.
Compass had $14.1 billion in residential real estate sales volume in the D.C. region in 2021, unseating Long & Foster Real Estate from its long-held position as No. 1 residential real estate firm by sales volume in the Washington metro market, though Long & Foster remained No. 1 based on number of homes sold, the Washington Business Journal reported, citing Long & Foster President Larry Foster.
The building’s restoration and conversion included the addition of two stories and a new plaza in front of the building. The Class A property has 52,000 square feet of leasable space.
JLL said the only remaining full floor space available is on the first- and second floors.